Truist Financial Corporation $TFC Shares Sold by Xponance Inc.

Xponance Inc. lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,441 shares of the insurance provider’s stock after selling 10,799 shares during the period. Xponance Inc.’s holdings in Truist Financial were worth $8,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TFC. Vanguard Group Inc. boosted its holdings in Truist Financial by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after buying an additional 1,529,478 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Truist Financial by 0.3% in the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock valued at $1,205,855,000 after acquiring an additional 74,728 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Truist Financial by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,566,519 shares of the insurance provider’s stock worth $755,185,000 after acquiring an additional 164,034 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Truist Financial by 6.5% in the second quarter. Invesco Ltd. now owns 13,995,108 shares of the insurance provider’s stock worth $601,650,000 after acquiring an additional 854,826 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Truist Financial by 6.6% during the second quarter. American Century Companies Inc. now owns 12,834,800 shares of the insurance provider’s stock worth $551,768,000 after purchasing an additional 793,276 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 4.3%

Shares of TFC stock opened at $49.26 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The company’s 50-day moving average price is $51.21 and its 200-day moving average price is $47.56. The stock has a market cap of $61.54 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The firm had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. As a group, equities analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is currently 54.59%.

Truist Financial declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

TFC has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a report on Tuesday, January 6th. Evercore reissued an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $56.47.

Insider Buying and Selling

In other news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. This represents a 83.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.